Marriage Gifts Before Wedding Not Bogus: ITAT Deletes Cash Deposits Addition

Manubhai Dahyabhai Bhoi Vs ITO (ITAT Ahmedabad) Marriage gifts were received prior to the date of marriage itself could not lead to the conclusion that the same are not genuine: ITAT Ahmedabad deletes Rs 18.51 lakh addition for cash deposits – contract income u/s 44AD & marriage gifts found genuine Ahmedabad  ITAT allowed the assessee’s appeal &  deleted an addition of Rs 18,51,500/- made u/s 69A towards cash deposits, holding that the sources—contract income declared under section 44AD &  marriage gifts—were duly evidenced &  not disproved by the Revenue. Asses...